Definition of "Convey"

Vernita Aikens real estate agent
Vernita Aikens, Real Estate Agent Rebbie Woods Realty Group LLC

To sell property from one to the other and transfer all title and interest. Property is conveyed by bill of sale, contract, deed or other instrument.

 

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Comments for Convey


Frances Stenzel Frances Stenzel said:

In sale of real estate when it is held in a revocable trust, what does it mean when trustee has power to sell real property with or without security

Jun 21, 2021  19:51:46

 
Real Estate Agent

Hey Frances! Thank you for reaching out to us. A property held in a revocable trust can be sold by the trustee with or without security. There are two instances and both will be explained.

If the trust is funded during the grantor's lifetime, real property or other assets require registering securities in the name of the trust. Here the security is required.

However, if the trust is funded after the grantor's death when the probate court "pours" the estate into the trust, including real estate, registering securities is not required.

In both of these instances, the trustee can sell the grantor's real estate property.

For more exact explanations you should contact a real estate lawyer or an attorney.

Jun 25, 2021  11:47:31
 
 

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